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Romania-Korea trade advances 11.4pct eleven months into 2022

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Trade between Romania and Korea in the first 11 months of 2022 was 1.08 billion US dollars, up 11.4% from the same period of 2021, according to a press statement released by the Bucharest Chamber of Commerce and Industry (CCIB).

Romanian exports amounted to 404 million US dollars (-3.2%), and Korean imports to 676 million US dollars (+22.4%), told Agerpres.

CCIB Chairman Iuliu Stocklosa welcomed a delegation of officials of the Korean chamber of commerce system led by Woo Taehee, executive deputy chairman of the Korean National Chamber of Commerce and Industry (KCCI).

The meeting was also attended by Lee Young Hwai, executive deputy chairman of the Busan Chamber of Commerce and Industry (BCCI), and Lee Jae Kyung, executive deputy chairman of the Daegu Chamber of Commerce and Industry (DCCI), Corneliu Samoila, chairman of the CCIB Industry Section and deputy CCIB chairman, and Eduard Pughin, member on the CCIB Management Board and general director of the Maguay Group.

The meeting took place on the sidelines of a multi-sector trade mission to Romania designed to identify concrete ways of collaboration starting from the opportunities offered by Romania and Korea and from a certain complementariness of the two economies.

In the opening, Stocklosa made a brief presentation of CCIB, emphasising its role and place in the economic and social life of Romania. He also mentioned CCIB's foreign affairs strategy focused on the development of relationships with countries outside the European Union, including those in East Asia.

He also pointed to an interest in developing contacts with similar organisations in Busan and Daegu, two important industrial and technological hubs of Korea, as well as with their members, putting forth the proposal of signing a collaboration agreement with BCCI and updating the one concluded in 2010 with DCCI.

Woo praised the CCIB leadership for openness to boosting co-operation at the chamber level and to strengthening bilateral economic relations. He pointed out that there are opportunities that can be capitalised on, but a better knowledge of Romania's economic potential is needed by the business community in his country.

According to Woo, information technology, communications, the industrial sector and tourism are areas where mutually beneficial collaborations can be initiated. The head of the visiting Korean delegation spoke about the project for Busan to host the 2030 World Expo, focused on the new technologies of the future, such as artificial intelligence, 6G technology, smart airports and seaports, requesting the support of the Romanian chamber of commerce system for designating Korea organiser of the World Expo.


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